Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) Stock Price Down 7.9% – Here’s What Happened

Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) fell 7.9% during trading on Thursday . The company traded as low as $13.32 and last traded at $13.20. 16,752,597 shares changed hands during mid-day trading, an increase of 28% from the average session volume of 13,074,086 shares. The stock had previously closed at $14.32.

Analyst Upgrades and Downgrades

Separately, The Goldman Sachs Group upped their price objective on Petróleo Brasileiro S.A. – Petrobras from $15.40 to $17.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $18.24.

Petróleo Brasileiro S.A. – Petrobras Stock Performance

The company has a quick ratio of 0.71, a current ratio of 0.94 and a debt-to-equity ratio of 0.65. The firm has a market capitalization of $86.00 billion, a P/E ratio of 5.21, a P/E/G ratio of 0.18 and a beta of 1.40. The stock has a fifty day moving average of $13.74 and a 200-day moving average of $14.15.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. University of Texas Texas AM Investment Management Co. boosted its position in Petróleo Brasileiro S.A. – Petrobras by 51.3% during the fourth quarter. University of Texas Texas AM Investment Management Co. now owns 191,051 shares of the oil and gas exploration company’s stock valued at $2,457,000 after purchasing an additional 64,759 shares during the last quarter. Sunbelt Securities Inc. lifted its holdings in Petróleo Brasileiro S.A. – Petrobras by 67.0% during the 4th quarter. Sunbelt Securities Inc. now owns 10,031 shares of the oil and gas exploration company’s stock worth $128,000 after purchasing an additional 4,026 shares during the last quarter. GTS Securities LLC acquired a new stake in Petróleo Brasileiro S.A. – Petrobras during the 4th quarter worth approximately $281,000. Vise Technologies Inc. increased its stake in Petróleo Brasileiro S.A. – Petrobras by 5.1% during the 4th quarter. Vise Technologies Inc. now owns 33,916 shares of the oil and gas exploration company’s stock worth $436,000 after acquiring an additional 1,633 shares during the period. Finally, Poehling Capital Management INC. increased its stake in Petróleo Brasileiro S.A. – Petrobras by 0.8% during the 4th quarter. Poehling Capital Management INC. now owns 228,299 shares of the oil and gas exploration company’s stock worth $2,936,000 after acquiring an additional 1,870 shares during the period.

Petróleo Brasileiro S.A. – Petrobras Company Profile

Petróleo Brasileiro SA – Petrobras explores, produces, and sells oil and gas in Brazil and internationally. The company operates through three segments: Exploration and Production; Refining, Transportation and Marketing; and Gas and Power. The Exploration and Production segment explores, develops, and produces crude oil, natural gas liquids, and natural gas primarily for supplies to the domestic refineries.